Survey, sort of. The MINIMUM dollar amount to start an Internet business?
 

1000 bux.

5000 dollars?

10K?

I think a bootstrapper, with TIME to work her biz, can start for 3 thousand dollars. It gives her a web site, tools, and a little for marketing, IF well thought out.

What in your opinion is the MINIMUM amount of MOOLAH it takes to start and sustain a cash flow Internet business?

Any examples would be appreciated too.

Gordon

PS Likewise, the minimum to start an OFFLINE cash cow, albeit, just a calf to start, but one that grows quickly. And again, any examples are appreciated.

Re: Survey, sort of. The MINIMUM dollar amount to start an Internet business?
 

Hi Gordon,

I think it partly depends on how fast you want it to get going... Fast or slow?

If you know what you're doing, money can buy you faster growth...

For example, if you have unlimited time... You can create your own info-product - which could be a course, for example...

Again, if you know what you're doing, you can create a sales message to sell your course to buyers...

Then, you need targeted traffic (i.e. qualified leads) to see or hear your sales message...

You can do this with virtually no budget... But it would most likely take more time to build.

If you can spend money on advertising, that can speed things up immensely...

I think I would want, ideally, $1,000+ budget (more is better), mostly to spend on advertising...

There are ways to do it with little or no advertising... But it would be slower...

I would aim to build up an email list of qualified leads... If I have their email, I can market to them over time, which (as long as I'm also providing good free stuff) will build up a relationship with my email list... Which is more likely to lead to sales...

In this scenario, I'd be pretty much doing everything myself (creating the course, creating a website, creating the sales message, creating various free reports to entice people to join my email list, and also valuable email messages to send out)... You can outsource some of these things, but it will then cost more money (and you'd need a bigger budget)...

It's easier to do with a bigger budget, than a smaller one...! But... your "downside" is also greater if it doesn't work out!

Best wishes!

Dien

Thanks Dien, good thinking here.
 

100% spot on, SPEED can be bought. One could easily buy products like PLR, and speed things up, or do affiliate marketing.

My opinion, using the old NPGS formula: Product-Prospect-Media-Promotion, I would allot 60% or more for the PROMOTION/MARKETING. So, if I had 5 thousand to invest, I would want 3 of that for marketing, at least.

We see out here, just the opposite, many spend most of that 5k on web sites, software, programs and when it comes time to get a customer, they want to do it with little to no cost, they have things totally upside down.

Which is why I always ask, WHO is the market, HOW do they buy...start with the transaction FIRST...and then one clearly sees all that comes before that is "machinery", the means to an end.

Of the 3k I think is low bootstrapping start-up, I would allow 2 of that for marketing.

Gordon

P.S. My test Ahoyo venture has 10 bux into it so far, for the 10 sided dice, and the site is free, PayPal costs nothing, so I need to send targeted traffic to it. Maybe test 100 bux in Facebook ads? Any ideas? Oh, it doesn't have to be profitable on the Ahoyo end, I will offer a higher priced back end to it with fulfillment.

Re: Thanks Dien, good thinking here.
 

Hi Gordon,

Now that I think about it more, maybe the HB method is better...?

I should be doing more of that myself...

He has very rarely directly sold his products. He pretty much has always gotten other people - who have the customers and the traffic already - to sell his stuff for him...

Best wishes!

Dien

Thanks for sharing, Dien.
 

Hi there, Dien:

I agree; I also think the Harvey Brody method is better.

I don't think there's a way around investing TIME and EFFORT in building ANY type of business. I'm sure even the great Harvey Brody invested the needed time and effort to build his impressive Rolodex of willing partners.

By the way, this "survey" reminds me of the well-heeled young man J.F. (Jim) Straw mentions in his Mail Order report.

In summary, the young man (in a stunt similar to much of what passes today as "buying traffic") tried to short-cut the tried-and-true process Straw had taught him - and ended up running out of steam.

Sadly, a lot of "information" on business-building seems to focus on "fast hacks" that end up wasting more time and money

The good news is: platforms like SOWPub provide useful information that can help any serious seeker invest the needed TIME along the right lines.

Thanks again.

First draft, ready to sell some dice.
 

The Magic Sauce is in customers, whomever has them, and will promote to them. If they have the buyers, you can make some dough.

Or play my Magic Lottery Dice game, first blush of Ahoyo site (thanks to you) and this afternoon, I'll add more details to it, maybe even make a video.

https://ahoyo.to/luckyal

Lucky is as lucky does, as "momma" used to say.

Gordon

P.S. Speaking of HB, he sold several books on gambling, can't recall them all, but if only he didn't have those darn annoying employees hanging around fulfilling his sales...he may still be in the publishing business. HA!